My fiance and I are purchasing a newbuild flat in Willingham with a loan from lend.We have a Willingham conveyancing practitioner but lend informed us her practice is not on their approved list of firms. we are left little option but to use a lend panel lawyer or retain our preferred solicitor and pay for a lend panel lawyer to act for them.We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, a common one being that solicitors will be on the approved list.in the past, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for
Forgive me if this question is silly but I am new to the process as a 1st time buyer of a ground floor flat in Willingham.Do I pick up the keys to the property on completion from my lawyer? If so, I will find a local conveyancing solicitor in Willingham?
On the day of completion you do not need to go to the conveyancers office in Willingham. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be able to pick up the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
Due to the encouragement of my in-laws I had a survey completed on a house in Willingham in advance of appointing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies will refuse to issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Willingham. Conveyancing will be smoother if you use a solicitor in Willingham especially if they regularly deal with such properties in Willingham.